India Sees Dip In Agri Exports, However Buffalo Meat, Fruits And Vegetables Shipments Grow In First Half Of FY25

Basmati rice exports during the period climbed by 11 per cent on a YoY basis to touch $2.87 billion, due to the recent removal of the minimum export price

The agricultural and processed food exports in India dipped by 1 per cent in the first half of the current fiscal year. The export value reached $12.13 billion in the April-September period in 2024-25 fiscal year (FY25). This decline was attributed to a major 17 per cent fall seen in non-basmati rice exports.

According to a report by The Financial Express, India saw a notably growth in its basmati rice, buffalo meat, and fresh fruit exports during the period under review, in comparison to the first half of the preceding 2023-24 fiscal year (FY24).

Basmati rice exports during the period climbed by 11 per cent on a year-on-year (YoY) basis to touch $2.87 billion, due to the recent removal of the minimum export price (MEP) of $950 per tonne which was put in place in October 2023 and lifted last month to boost high-value shipments.

The report cited government officials and said that agri-exports are expected to bounce back in the second half of the current fiscal year as a result of the removal of restrictions on rice exports. Last month, the government eased all limitations on basmati and non-basmati rice exports, such as the removal of the MEP and export duties.

Meanwhile, non-basmati rice exports plunged 17 per cent to touch $2.25 billion during the first half of the year, attributed to earlier restrictions. Trade experts anticipated export volumes to surge after the removal of duties and MEP, making India the leading player in the global rice market.

Buffalo meat exports climbed 4 per cent during the period under review to $1.8 billion, in comparison to $1.73 billion reported in the year-ago period. Officials said this growth was due to a rise in global demand for Indian buffalo meat which according to the World Organisation for Animal Health (OIE) standards, is recognised for its nutrition, safety, and quality.

Fresh fruit exports also rose to hit $0.4 billion during the April-September period, while fresh vegetable exports slumped by 4 per cent to reach $0.43 billion in the period under review.